Will Australia Q3 GDP data prompt the RBA to cut its policy rate soon?

Australia will release Gross Domestic Product (GDP) figures for the third quarter (Q3) on Wednesday.

Australian Gross Domestic Product is foreseen to be up by 1.1% in Q3 compared with the same quarter a year earlier. The Reserve Bank of Australia will likely maintain the OCR on hold until later in 2025. The Australian Dollar advances against its United States rival, sellers waiting for better levels. Australia will release Gross Domestic Product figures for the third quarter on Wednesday. The Australian Bureau of Statistics is expected to report that the economy grew 0.

Technical indicators in the daily chart remain within negative levels, offering modest upward slopes that suggest mounting USD selling rather than AUD buying. Even further, a firmly bearish 20 Simple Moving Average provides dynamic resistance since mid-November, currently standing at 0.6514.” Bednarik adds: “Better-than-anticipated GDP readings could push the pair beyond the mentioned resistance level and send AUD/USD towards 0.6570, a static resistance area.

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